Answer:
$366,287.15
Explanation:
Annual salary = $32000
No. of years (n) = 30 years
Increment in salary = $600
Deposit rate = 10%
Interest rate (r) = 7% or 0.07
Growth rate (g) = Increment in salary \div annual salary
Growth rate = $600 \ $32000
Growth rate = 0.01875
First deposit = $32000 x 10% = $3200
Future worth = [First deposit \ (r - g)] x [(1 + r)n - (1 + g)n]
Future worth = [$3200 \ (0.07 - 0.01875)] x [(1 + 0.07)30 - (1 + 0.01875)30]
Future worth = [$3200 \ 0.05125] x [(1.07)30 - (1.01875)30]
Future worth = $62439.0243902 x [7.6122550423 - 1.7459373366]
Future worth = $62439.0243902 x 5.8663177057
Future worth = $366287.15
Hence, the future worth at retirement is $366,287.15
Answer:
Tuiton real cost incrased by 640%
Explanation:
We divide the nominal cost of each year by the CPI index to get the real cost on each year (adjusted by inflation)
250 / 0.48 = 520,8333
8,000 / 2.40 = 3.333,33
The real price of tuiton increase from 520.83 to 3,333.33 which stnad for a percentage increase of:
3,333.33 / 520.83 = 6,4 = 640%
False Communities and countries with greater income inequality tend to have higher rates of crime and higher rates of drug use. These relationships are examples of positive correlations
<h3>What is
income?</h3>
Income is the consumption and saving opportunity gained by an entity over a given time period, which is usually expressed in monetary terms. Income is difficult to define conceptually, and definitions vary across fields.
Income is defined as the amount of money received by a person, group, or company over a specific time period. A salary of $70,000 per year is an example of income.
Income is money received by an individual or business in exchange for labor, the production of a good or service, or the investment of capital. Individuals typically earn money through wages or salaries, whereas businesses make money by selling goods or services for more than their cost of production.
To know more about income follow the link:
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Acceptance to employment and start of employment
Answer:
The correct answer is $1,000.
Explanation:
According to the scenario, the given data are as follows:
For one year
Bond pay (p) = $50
Time period (t)= 1 year
Interest rate (r) = 5%.
So, Price of bond for 1st year = p ( 1 + r)^-t
By putting the value, we get
Price of bond for 1st year = $50 ( 1 + 0.05)^-1 = $47.62
For Second year
Bond pay (p) = $1,050
Time period (t)= 2 year
Interest rate (r) = 5%.
So, Price of bond for 2nd year = p ( 1 + r)^-t
By putting the value, we get
Price of bond for 2nd year = $1,050 ( 1 + 0.05)^-2 = $952.38
So, Total price of the bond = Price of bond for 1st year + Price of bond for 2nd year
= $47.62 + $952.38
= $1,000
